A big deal in biotech is going to line the pockets of some of Wall Street’s biggest firms.
In a statement Monday, Thermo Fisher said it would acquire all outstanding Patheon shares for $US35 apiece in cash, 35% higher than where the stock closed Friday.
One of Patheon’s biggest backers, JLL Partners, a Chicago-based private equity firm, stands to make a killing from the deal. According to reporting by Bloomberg, affiliates of JLL could earn $US2.2 billion, or nearly five times the original $US462 million they invested in March 2014 prior to the company’s initial public offering in July.
Two of Wall Street’s fiercest rivals also stand to profit from the acquisition.
On the buy-side of the deal, Goldman Sachs advised Thermo Fisher and could rake in $US30 million, according to data from Freeman & Co.
On the sell-side, Morgan Stanley served as Patheon’s adviser and could make $US35 million.
The deal is expected to close by the end of 2017.
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